Insulation industry news from Global Insulation

UK: Belgium-based Etex has concluded a deal to acquire glass wool insulation producer Superglass. Superglass operates the Stirling glass wool insulation plant in Stirling, Scotland, and employs 200 people. Etex says that the acquisition will increase its number of employees in its insulation division, which operates 11 plants across Europe, to 1500, and its total UK-based employees to 1300. Etex already produces gypsum wallboard, fibre cement sidings and slates and fibre cement corrugated sheets in the UK.

CEO Bernard Delvaux said “Etex has a clear focus to be the most innovative and sustainable global lightweight building material manufacturer. Joining forces with Superglass today is a great step forward on our growth path in insulation, just one year after we acquired URSA. The need for energy efficient and sustainable buildings is crucial, and Superglass and URSA are a perfect answer for it.”

UK: Superglass has completed a Euro43m upgrade to its glass wool plant in Stirling, Scotland. Production capacity at the unit has been doubled to 60,000t/yr, according to the Scotsman newspaper. A new furnace, curing oven and an automatic packing system were installed as part of the upgrade. The project was first announced in 2017 following the acquisition of the company by Russia’s TechnoNicol in 2016.

UK: Superglass’ revenue grew by 34% year-on-year to Euro37.9m in 2018 from Euro27.2m in 2017. Its profit rose by 37% to Euro0.65m. The subsidiary of Russia’s TechnoNicol Group said that it benefitted from increased sales, higher selling prices and operational cost efficiencies.

“Demand for glass wool insulation continues to be very strong both domestically and in export markets, and with the major manufacturing investment we’re making in the Stirling site, Superglass is set to double its production output capabilities and capitalise on the opportunity,” said Theresa McLean, Chief Financial Officer for TechnoNicol UK and Ireland.

UK: Superglass has tested a glass wool tea cosy against a traditional woollen version in a promotional video broadcast live on social media. In the experiment the tea cosy, made of 84% recycled glass wool insulation, kept a teapot hotter over a 90-minute period than an identical teapot with a woollen one. The teapots were filled with identical volumes of water and were measured with identical thermometers. By the end of the 90-minute experiment, the Superglass pot registered 67.7°C and the traditional cosy was down to 55.0°C.

“Of course, the tea cosy video is a bit of fun, but it highlights just how much of a difference good insulation can make,” said Bob Dalrymple, Head of Marketing at Superglass. He added that the company does not intend on manufacture tea cosies for sale.

UK: Russia’s TechnoNicol is to spend Euro42m towards upgrading its mineral wool plant in Stirling operated by Superglass. The investment will double the plant’s production capacity to 60,000t/yr. The upgrade work will include installing a new 187t furnace and curing ovens. Cooling, cutting and milling equipment will be replaced and an automatic packing system will be installed. Construction will start early in 2018.

“TechnoNicol’s backing is a real vote of confidence in Scottish manufacturing, both in terms of the quality of the work we do here and the expertise of the workforce. It is a validation of our strategy within Superglass over recent years and very personally satisfying for me to see further consolidation of the initial investment at our regional headquarters,” said Ken Munro, chief executive officer (CEO) of TechnoNicol UK, Ireland and USA which incorporates the Superglass business.

TechnoNicol operates 52 manufacturing facilities across Russia and Europe.

UK: TechnoNicol International plants to use Stirling-based Superglass to launch an expansion programme in the US and to develop its market in the UK and Ireland. TechnoNicol has created a new division at the company it purchased in July 2016 to achieve this aim and has made senior appointments to support it. The company aims to establish a ‘significant’ market share in North America over the next five years.

Ken Munro, Superglass’s chief executive officer, has become chief executive officer of TechnoNicol (UK, Ireland and USA). In this newly created role, Munro will have responsibility for the management and coordination of TechnoNicol’s presence in these regions and will continue to lead and develop the Superglass business as it is incorporated into this expanded structure.

Munro will also have responsibility for the global development of the Superglass brand as it begins to play a part in TechnoNicol’s overall insulation products strategy. As further businesses are developed, both organically and by acquisition, they will be integrated into this unified regional structure, with new jobs likely to be created in Stirling as the regional headquarters takes shape.

Stuart Rowell, who is currently Group Business Development Director at Superglass, and Girts Dikelsons, currently Regional Director TechnoNicol (UK and USA), will be responsible for sales and marketing activity across all product lines in the new region and are appointed as Regional Sales Director (Insulation Solutions) and Regional Sales Director (Bitumen Membrane Solutions) respectively.

Theresa McLean, Superglass’s Chief Financial Officer, has been appointed as chief financial officer of TechnoNicol (UK, Ireland and USA) and Mark Atherton, Operations Director at Superglass, becomes Chief Production Officer and Head of Operations for the newly expanded regional business. Rowell, Dikelsons, McLean, and Atherton will all report directly to Ken Munro.

UK: TechnoNicol intends invest up to Euro5.9m to double the production capacity to at least 55,000t/yr at Superglass’ mineral wool plant in Stirling. The upgrade will involve building a new furnace at the site to come online by 2020, according to the Scottish Herald. The investment is intended to boost the insulation producer’s sales in markets in the UK and western Europe. The decision follows shareholder approval of TechnoNicol’s purchase of Superglass.

UK: Sergei Kolesnikov, president of construction materials producer TekhnoNicol, will acquire Superglass. Kolesnikov has made an offer of US$11.49m for the Scottish glass mineral wool insulation producer via his company Inflection based in Cyprus. The board of directors of Superglass unilaterally recommended approving the purchase proposal. The shareholders who own 63.5% in Superglass have already submitted irrevocable obligations to sell their stakes.

"This transaction and the commercial partnership between Superglass and TekhnoNicol, is a strategic opportunity for all parties, providing TekhnoNicol, with a presence in the UK and Irish insulation markets. We are impressed with Superglass' management team and look forward to working with them," said Sergei Kolesnikov, the sole shareholder of Inflection.

UK: Ken Munro, the chief executive officer of Superglass, has been appointed the chairman of the Mineral Wool Insulation Manufacturers’ Association (MIMA). He replaces David Travill, managing director of Isover Saint Gobain, in the role.

“I would like to thank David for his leadership and contribution, and I am pleased to be assuming the chair at such a critically important time for energy efficiency policy. Investment in the fabric of our homes and in their energy efficiency is good for the economy, increases productivity and attracts investment,” said Munro. “In Scotland, our government has already committed to making the energy efficiency of our homes an infrastructure priority and is supported by the influential Energy & Climate Change Committee, led by Scottish National Party Chair, Angus MacNeil. This is an encouraging position but we would like to see this realised across the United Kingdom.”

Sarah Kostense-Winterton, executive director of MIMA, added that the organisation aims to protect consumers from energy price volatility and from fuel poverty, whilst reducing the UK’s carbon emissions.

UK: Superglass has appointed Stuart Rowell as its business development director. He will take responsibility for all domestic sales and exports, marketing and commercial strategy, according to the Herald newspaper. Rowell joins Superglass from the Positive Momentum consultancy.